Govt To Present Mini Budget On Jan 23

(@mahnoorsheikh03)

Govt to present mini budget on Jan 23

Finance Minister Asad Umar said that relief will be given to the people in the mini budget.

Islamabad (Pakistan Point News – 12th January, 2018) The Federal government has announced to present mini budget on January 23.

Finance Minister Asad Umar said that relief will be given to the people in the mini budget.

Talking to media in Karachi on Saturday, he said that any change in the taxes will be approved by the Parliament.

The finance minister said that the supplementary budget to be launched by the government this month, is aimed at enhancing exports, facilitating business activities, and attracting maximum foreign direct investment in the country.

Due to remedial measures, introduced by the current government for bringing stabilization in national economy, the economic indicators had already been started showing significant resilience, he said while addressing to anchorpersons here at his office.

During the first half of current financial year, he said exports of the country have increased, imports decreased and remittances are showing the upward trend as compared to the corresponding period of last financial year.

The minister said despite the immense challenges faced by the government on economic front, it was decided to introduce some structural reforms to correct the fundamentals of national economy for bringing about long term development and stabilization.

Due to these reforms, current account deficit has also registered decreasing trend which would ultimately help reducing the pressure on foreign exchange reserves, he added.

Asad Umer said that four components including exports, imports, remittances and foreign direct investment are the determining factors of current account deficit, adding that all these indicators excluding foreign investment remained up to the mark during first half of current fiscal year.

Mahnoor Sheikh

The writer is News Editor, Pakistan Point. She has graduated in Mass Communication and has worked in various media houses